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Joseph Schumpeter Imperialism: A Product of Atavism.

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Presentation on theme: "Joseph Schumpeter Imperialism: A Product of Atavism."— Presentation transcript:

1 Joseph Schumpeter Imperialism: A Product of Atavism

2 Intellectual Environment of Schumpeter Marginalist Revolution ( )and Austrian School of Economists Marginalist Revolution ( )and Austrian School of Economists Eugen von Böhm-Bawerk and Friedrich von Wieser Eugen von Böhm-Bawerk and Friedrich von WieserBöhm-BawerkWieserBöhm-BawerkWieser Leon Walrus and Equilibrium Theory Leon Walrus and Equilibrium Theory Austro Marxian School Austro Marxian School

3 Elite theories of Social Organization Vilfredo Pareto (15 July, 1848, -August 19, 1923 ) Vilfredo Pareto (15 July, 1848, -August 19, 1923 ) Trattato di sociologia generale (1916) Trattato di sociologia generale (1916) Robert Michels ( 9, Jan. 1876, Cologne,- 3 May, 1936 ) Robert Michels ( 9, Jan. 1876, Cologne,- 3 May, 1936 ) Political Parties: A Sociological Study of the Oligarchical Tendencies of Modern Democracy Political Parties: A Sociological Study of the Oligarchical Tendencies of Modern Democracy Gaetano Mosca ( 1 April November 1941) Gaetano Mosca ( 1 April November 1941) The Ruling Class (1896) The Ruling Class (1896)

4 Schumpeter A Defender of Rational Capitalism A Lawyer turned Professor at Czernowitz A Lawyer turned Professor at Czernowitz Theory of economic Development (1911) Theory of economic Development (1911) Founder of the Theory of Entrepreneurship Founder of the Theory of Entrepreneurship Theory of The Theory of Economic Development: An inquiry into profits, capital, credit, interest and the business cycle, Theory of The Theory of Economic Development: An inquiry into profits, capital, credit, interest and the business cycle, Economic Doctrine and Method: An historical sketch, Economic Doctrine and Method: An historical sketch, 1914.

5 Schumpeter as a Politician and an Academic German Socialization Committee German Socialization Committee Kiel School of Economists and German Marxists Such Kautsky and Hilferding Kiel School of Economists and German Marxists Such Kautsky and Hilferding Brief Tenure as Austrian Minister of Finance in 1919 Brief Tenure as Austrian Minister of Finance in 1919 President of Bank and Professorship at Bonn President of Bank and Professorship at Bonn Harvard University in 1932 Harvard University in 1932 Mentor of Paul Samuelson Mentor of Paul Samuelson

6 Veblen and German State Influence of Thorstein Veblen Influence of Thorstein Veblen Imperial Germany and the Industrial Revolution (1915) Imperial Germany and the Industrial Revolution (1915) Comparison between Germany Britain Comparison between Germany Britain The Idea of dynastic State The Idea of dynastic State End of Dynastic State End of Dynastic State

7 Schumpeter’s Idea of Imperialism Influence of Economic Interpretation of History Influence of Economic Interpretation of History Proving Marxists Wrong. Proving Marxists Wrong. Imperialism is the object- less disposition of a state to expansion by force without assigned limits. Imperialism is the object- less disposition of a state to expansion by force without assigned limits. Imperialism benefits a small clique. Imperialism benefits a small clique.

8 Main Features of Schumpeter’s Thesis Historical force of non- rational and irrational, purely instinctive inclinations to war and conquest Historical force of non- rational and irrational, purely instinctive inclinations to war and conquest Consolidation of Class of Warriors Consolidation of Class of Warriors Internal Relationships and dominant positions of such a group in political and economic structure Internal Relationships and dominant positions of such a group in political and economic structure Imperialism is an atavism Imperialism is an atavism

9 Capitalism as an anti imperialist political economic system Imperialism a Legacy of Monarchical State Imperialism a Legacy of Monarchical State Capitalism as a rational economic system opposed to direct imperial conquest Capitalism as a rational economic system opposed to direct imperial conquest Dismantling of the special Interest Groups Dismantling of the special Interest Groups Pacific Capitalism Pacific Capitalism

10 Weaknesses of Schumpeter’s Thesis Too Deeply Embedded in Continental Context Too Deeply Embedded in Continental Context Failure to see new world wide context of Empire Failure to see new world wide context of Empire Foreign Trade led to Empire Foreign Trade led to Empire The Idea of Informal Economic Hegemony The Idea of Informal Economic Hegemony Predictions of Modern International Order Predictions of Modern International Order


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